Information Assymetry and Double Standard in the Doctor-Patient Relationship
AbstractThe aim of the article is to explore the doctor - patient relationship using the information asymmetry framework and principal-agent theory. From the perspective of economic exchange, this relationship is relatively specific, as an uneven rank and position of the agents involved play an important role here. It is argued that this unevenness arises from several different factors, such as education and qualification, work experience, path dependence, and the nature of goods and services provided. The relationship specificity is then discussed from a theoretical point of view while its most important elements are highlighted and put into a wider context. Further, market approach in healthcare system and healthcare services is partially debated and a simple model analyzing he "double-standard treatment is developed. Subsequently, this type of treatment is analyzed with the aid of vertical differentiation approach. Based on economic rationale, the authors claim that "medical knowledge/information obligation should play a crucial role in all healthcare services. This type of instrument is to be applicable for both parties in the doctor - patient relationship, as it may help overcome the inherently present information asymmetry by rendering the healthcare services provision more transparent.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
Bibliographic InfoArticle provided by University of Economics, Prague in its journal Politická ekonomie.
Volume (Year): 2012 (2012)
Issue (Month): 3 ()
Postal: Redakce Politické ekonomie, Vysoká škola ekonomická, nám. W. Churchilla 4, 130 67 Praha 3
Find related papers by JEL classification:
- D8 - Microeconomics - - Information, Knowledge, and Uncertainty
- D81 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Criteria for Decision-Making under Risk and Uncertainty
- I11 - Health, Education, and Welfare - - Health - - - Analysis of Health Care Markets
- I18 - Health, Education, and Welfare - - Health - - - Government Policy; Regulation; Public Health
- L15 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Information and Product Quality
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Florence Naegelen & Michel Mougeot, 1998.
"Asymétrie d'information et financement des hôpitaux. Une comparaison des modes d'organisation du système de santé,"
Programme National Persée, vol. 49(5), pages 1323-1343.
- Florence Naegelen & Michel Mougeot, 1998. "Asymétrie d'information et financement des hôpitaux. Une comparaison des modes d'organisation du système de santé," Revue économique, Presses de Sciences-Po, vol. 0(5), pages 1323-1343.
- Karel Janda, 2001. "Signalling and underutilization of import quota," The Journal of International Trade & Economic Development, Taylor & Francis Journals, vol. 11(4), pages 351-365.
- Longo, R & Miraldo, M & Street, A, 2009.
"Price regulation of pluralistic markets subject to provider collusion,"
1454, Imperial College, London, Imperial College Business School.
- Roberta Longo & Marisa Miraldo & Andrew Street, 2008. "Price regulation of pluralistic markets subject to provider collusion," Working Papers 045cherp, Centre for Health Economics, University of York.
- Karel Janda, 2006. "Lender and Borrower as Principal and Agent," Working Papers IES 2006/24, Charles University Prague, Faculty of Social Sciences, Institute of Economic Studies, revised Jul 2006.
- Karel Janda, 2007. "Instituce státní úvěrové podpory v České republice [available in Czech only]," Working Papers IES 2007/20, Charles University Prague, Faculty of Social Sciences, Institute of Economic Studies, revised Jun 2007.
- Georg Kirchsteiger & Ernst Fehr & Simon Gächter, 1997.
"Reciprocity as a contract enforcement device: experimental evidence,"
ULB Institutional Repository
2013/5911, ULB -- Universite Libre de Bruxelles.
- Ernst Fehr & Simon Gachter & Georg Kirchsteiger, 1997. "Reciprocity as a Contract Enforcement Device: Experimental Evidence," Econometrica, Econometric Society, vol. 65(4), pages 833-860, July.
- Deborah Haas-Wilson & Martin Gaynor, 1998. "Physician networks and their implications for competition in health care markets," Health Economics, John Wiley & Sons, Ltd., vol. 7(2), pages 179-182.
- Rothschild, Michael & Stiglitz, Joseph E, 1976. "Equilibrium in Competitive Insurance Markets: An Essay on the Economics of Imperfect Information," The Quarterly Journal of Economics, MIT Press, vol. 90(4), pages 630-49, November.
- Shaked, Avner & Sutton, John, 1982. "Relaxing Price Competition through Product Differentiation," Review of Economic Studies, Wiley Blackwell, vol. 49(1), pages 3-13, January.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Vaclav Subrta).
If references are entirely missing, you can add them using this form.